GM to ramp up production, sees ‘significantly better’ first-half 2021 results

Chevy Silverado HD

Phil LeBeau | CNBC

General Motors said on Thursday it would ramp up production of large- and mid-sized pickups in North America as demand rises, and it expects financial results for the first half of 2021 to be “significantly better” than forecast earlier.

The company said it was “optimistic” for the full year and expects to share more information during its second-quarter earnings conference call on Aug. 4.

The company will increase production of Chevrolet’s Silverado HD and Colorado and GMC’s Sierra and Canyon, it said, at a time a global shortage of semiconductor chips has slowed down production around the world.

The Detroit-based automaker had previously told investors it expected adjusted earnings before interest and taxes for the first half to be around $5.5 billion.

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